The top 5 reasons a debt collection agency needs to tailor their strategies for clients
There are many potential reasons you would consider partnering with a Debt Collection Agency (DCA) but have you thought about business fit?DCA’s were not all created equal so often it can be a minefield to know who will compliment you best. Key questions will need to be answered and alongside experience, focus and scope of ability, which are 3 of the crucial competencies you should look for when assessing the right fit for your collections team, you should also consider the DCA’s ability to develop strategies that compliment your goals. You’ll have two options. Partnering with an off-the-shelf service provider that has little flex in it’s processes due to out of date methodology or a company focused on creating bespoke services with the flexibility to meet all of your requirements (be it based on procedure length, content, tone, IT integration, ancillary services or litigation requirements). Which one sounds more attractive to you? Our extensive experience in the debt collection industry, of customer expectations and sector regulations have meant that a personalised strategy is the only solution for our clients. As well as offering strong customer engagement, bespoke strategies also allow business processes to interact more seemlessly.
Want to know more? Here’s our Tech & Services brochureIn this blog we’ve pooled together the top 5 reasons partnering with a DCA that offers tailored strategies is a necessity:
1. You’re uniqueYou know how unique your business is. You’ll have a certain number of expectations of how you run your business and how you need information to be presented. Your customers will also be unique therefore your tone, branding and route to market will need to be mirrored at the ‘back end’. The prepared DCA appreciates new approaches and can offer solutions to accommodate challenging business systems. They have an open-minded approach with a goal to create new processes that help to create synergy. Your DCA of choice will need to have the capacity to first listen, then understand your processes and dovetail their services to support your unique needs. Bespoke strategies are what we do, for example, no one client has the same procedure and content as another. What works for one might not work for all.
2. Personalised and single voiceMany companies will spend a good deal of money developing brand values, colours and tone of communication so when deciding on the correct DCA to partner with you want to know that there is going to be a continuation of these same attributes.for your customers.
Familiarity builds confidence for customers, allowing them to feel like their needs are being met. Here at CRS we founded our ‘White Label’ product directly in response to our partners needing a service that gave their customers the ‘single voice’ of their services. We become an extension of your team – which includes an adherence to your polices, procedures and processes.